Temp agency financial definition of Temp agency
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temporary work employment which is of a less than permanent duration, i.e. where the employees are on fixed-term contracts or where they take jobs for a limited time. The reasons for employing temporary workers are that the job duties may themselves be temporary, or that the employer is uncertain about the future prospects of the organization and wishes to retain the flexibility to adjust employment levels downwards. Temporary work can be unsettling for those seeking long-term employment since it is difficult to plan for the future. However, some groups, for example students wanting holiday jobs, actively seek such employment. The amount of temporary work has increased substantially in recent years. In universities, for instance, a high proportion of staff are now on fixed-term contracts. See LABOUR FLEXIBILITY, PART-TIME WORK.